CT2016-2060 Contract - Laserfiche WebLink

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benefit of the people of the state, provided that the BORROWER assures repayment of that money. SECTION 4-BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION At its May 22, 2014, meeting the CWCB approved a Small Project Loan, from the Severance Tax Perpetual Base Fund to the BORROWER, in an amount up to $6,931,000 for PROJECT costs with a loan service fee of 1% in accordance with CWCB Policy No. 16 resulting in a loan service fee of$69,310 and a total loan amount of$7,000,310 at an interest rate of 1.75% per annum for a repayment term of 30 years. Pursuant to CWCB projects Bill HB14-1333, the Colorado General Assembly authorized CWCB to loan to the BORROWER a total amount up to $28,451,700 for the Chatfield Reallocation PROJECT. There will be a total of three (3) CWCB loan contracts. SECTION 5—SCHEDULE OF EXISTING DEBT As of the date of the CWCB loan approval, the BORROWER has outstanding the following obligation. 2013 District $30,000,000 $30,000,000 1,461,000 2035 3 Mill Tax Bond Levy SECTION 6—ADDITIONAL CONDITIONS &CONTRACT REQUIREMENTS NONE. SECTION 7—CONSTRUCTION FUND PROGRAM PROCEDURES A. The BORROWER shall employ or cause the entity that oversees construction of the Project to employ an engineer, registered in the State of Colorado to prepare plans and specifications for the PROJECT. B. Engineering contracts and the plans and specifications must be submitted to the CWCB staff for verification of compliance with the terms of this CONTRACT when available prior to bidding. Any modifications, to the plans and specifications that effect changes to the construction costs must be approved in writing by CWCB. C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by § 37-87-105 C.R.S., the BORROWER shall provide or cause the entity that oversees construction of the Project to provide a letter of approval from the State Engineer's Office prior to construction. Appendix 1 Page 2 of 4